STATEMENTS BY SENATORS

Senator HUME (Victoria—Deputy Leader of the Opposition) (13:56): It's nice to know that some Labor MPs and senators have finally woken up to reality. The news today is that Labor MPs are voicing their concerns behind closed doors over the prospect of more interest rate hikes and stalling living standards. The problem, of course, is that Australian families have been living this reality for years now.

Household budgets are being crushed, real wages have gone backwards, the cost of housing has surged and then crashed and families now face the prospect of even higher interest rates. Labor MPs and senators know that small businesses are struggling. They know that regulation is holding businesses back, and they know that taxes are making it harder to invest and harder to employ.

They just won't say this publicly. They know all this because their constituents and stakeholders are telling them every day. I even heard a story about one Labor MP being chased out of his own local coffee shop because the owner of that business was so angry about Labor's tax changes.

And what is the Treasurer's response? Well, he said it could be worse—it could be worse! I'm sure that gives Australians very little comfort at night when they look at their own books.

The reality is you, over there, all know what you have done to add to inflation. You know that the tax changes that you have introduced are making it harder to invest and harder to build more homes. You know that young Australians are facing a tougher road to homeownership, not an easier one.

You know that the growing amount of red tape and regulation is making it harder for small businesses in particular to get ahead. You know that Australians are worse off under your government. The only people who are pretending that everything is alright are the Prime Minister, Anthony Albanese, and the Treasurer, Mr Chalmers.

But a hope and a prayer is not an economic plan. You can't spend more, tax more and regulate more and then suddenly act surprised when Australians are paying more. Australians do not deserve excuses.

They don't need excuses. They need a government that will actually fix the economy.